I don't believe for a second that piles of the fastest 28nm Bitcoin ASIC ever made sat around collecting dust until they're worthless.

Believe it or not, that's exactly what happened and is still happening, thanks to the monumentally ill-advised and self-defeating move of getting courts and lawyers involved. Some chips are being held hostage by Uniquify/Signetics, with many still in wafers.

As many predicted, the creditor committee has been about as effective as a car with five steering wheels.

"The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996"Fungibility provides privacy as a side effect." Adam Back 2014

I don't believe for a second that piles of the fastest 28nm Bitcoin ASIC ever made sat around collecting dust until they're worthless.

Believe it or not, that's exactly what happened and is still happening, thanks to the monumentally ill-advised and self-defeating move of getting courts and lawyers involved. Some chips are being held hostage by Uniquify/Signetics, with many still in wafers.

As many predicted, the creditor committee has been about as effective as a car with five steering wheels.

What about the monumentally retardness inside the HashFast team who only delivered one single batch of miners until May and no MPP? Chips were sitting on shelves collecting dust long before any bankruptcy started. What about that? Why are you only blaming the move the the courts and not blaming the team that got into this situation? Please tell me more abut the super-duper team and about their efforts to NOT let chips sit on shelves. What exactly did the HF team do to avoid getting into this situation? By the looks they did absolutely nothing or they failed on their every attempt.

You guys are getting to aggressive. They weren't that incompetent. They managed to increase the salaries of the whole management multiple times while not having enough cash to ship more than a couple of miners a day. That must be a valuable skill in this business. They managed to not only completely ignore their customers, but to pay people to troll them, while bragging around conferences about their new EVO board, while they should have spent the travel, marketing, personal, etc, costs to ship miners. A valuable skill. As is negotiating deals that would have returned something only to the people negotiating them - that also must be a valuable skill.

HashFast was full of people with valuable skills. Hell, they that marketing guy even did a spinoff of this scam. You are just not looking it from the right prospective.

My anger against what is wrong in the Bitcoin community is productive:Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers

You guys are getting to aggressive. They weren't that incompetent. They managed to increase the salaries of the whole management multiple times while not having enough cash to ship more than a couple of miners a day. That must be a valuable skill in this business. They managed to not only completely ignore their customers, but to pay people to troll them, while bragging around conferences about their new EVO board, while they should have spent the travel, marketing, personal, etc, costs to ship miners. A valuable skill. As is negotiating deals that would have returned something only to the people negotiating them - that also must be a valuable skill.

HashFast was full of people with valuable skills. Hell, they that marketing guy even did a spinoff of this scam. You are just not looking it from the right prospective.

So the US law lets companies that can't ship stuff to customers to increase the salaries of the whole management without a reason? If that's the case then what's holding companies to issue a $1M or $10M wage per month for the management? Give that wages and in 2 months you declare bankruptcy. Is the law that permissive?

No. Among many other things, undercapitalisation is a reason to pierce the corporate veil; iow, hold the people directly and personally responsible for the company's liabilities.

And that must have something to do with the people claiming to be broken, not to have enough to pay for the expenses of his family, and at the same time taking a month long vacation at the opposite side of the world.

My anger against what is wrong in the Bitcoin community is productive:Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers

So the US law lets companies that can't ship stuff to customers to increase the salaries of the whole management without a reason? If that's the case then what's holding companies to issue a $1M or $10M wage per month for the management? Give that wages and in 2 months you declare bankruptcy. Is the law that permissive?

Your aggressive herp-derp interrogations are amusing, because all the answers to your questions have already been provided.

If you would bother listening to the court hearings, you wouldn't have to look like an ignoramus under the delusion that he's asking tough questions!

"The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996"Fungibility provides privacy as a side effect." Adam Back 2014

So the US law lets companies that can't ship stuff to customers to increase the salaries of the whole management without a reason? If that's the case then what's holding companies to issue a $1M or $10M wage per month for the management? Give that wages and in 2 months you declare bankruptcy. Is the law that permissive?

Your aggressive herp-derp interrogations are amusing, because all the answers to your questions have already been provided.

If you would bother listening to the court hearings, you wouldn't have to look like an ignoramus under the delusion that he's asking tough questions!

I have something more important to do with my free time than hear some court hearing for a scam fail and bankrupt company. I was interested in the regular US law. As usual you are avoiding answering at sensitive questions. Do you consider fair that a company that can't deliver its shit to increase its manager's wage? Do you?

Your aggressive herp-derp interrogations are amusing, because all the answers to your questions have already been provided.

If you would bother listening to the court hearings, you wouldn't have to look like an ignoramus under the delusion that he's asking tough questions!

I have something more important to do with my free time than hear some court hearing for a scam fail and bankrupt company. I was interested in the regular US law. As usual you are avoiding answering at sensitive questions. Do you consider fair that a company that can't deliver its shit to increase its manager's wage? Do you?

The CTO is not a "manager" and since he's the brains behind their product, yes, I consider it fair to pay a market-based wage that will retain him. And the court agrees with me.

So now your aggressive questions are "sensitive?" Oh brother...

If you going to bark out long streams of inquiry, then insult the person considerate enough to repeat the answers already provided in this thread or in court transcripts, you can expect that person to stop being nice enough to provide further responses to your interrogations.

"The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996"Fungibility provides privacy as a side effect." Adam Back 2014

No company would increase staff / management pay when It is struggling with cash flow and can not deliver product to customers as they should, unless they are trying to squeeze as much money out of a business as possible before it goes bust! This is wrong in every sense and I am surprised people are not in jail already over this incompetence / theft / embezzlement call it what you may but it wasn't the ethical thing to do and I still haven't got any money back yet! Should this case really need to drag out this long!!! What the heck is going on? Beggars belief

No company would increase staff / management pay when It is struggling with cash flow and can not deliver product to customers as they should, unless they are trying to squeeze as much money out of a business as possible before it goes bust! This is wrong in every sense and I am surprised people are not in jail already over this incompetence / theft / embezzlement call it what you may but it wasn't the ethical thing to do and I still haven't got any money back yet! Should this case really need to drag out this long!!! What the heck is going on? Beggars belief

Retaining the key person behind the company's product is a valid reason to raise their wage to the prevailing market rate.

Having the CTO responsible for their only product leave for financial reasons isn't in anyone's interest.

That's why the Judge let it pass.

There was no "incompetence / theft / embezzlement" so do yourself a favor and free your mind of that harmful delusion.

This isn't hard to understand, once you stop jerking your knee and assuming you know better than those in possession of all the facts.

"The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996"Fungibility provides privacy as a side effect." Adam Back 2014

There was no "incompetence / theft / embezzlement" so do yourself a favor and free your mind of that harmful delusion.

There has been no real investigation to prove that one way or the other. Personally, I think the MOST interesting assets in this auction will be the estate's claim rights. These rights to go after any recoveries different people actually owe the estate for money they have taken that they should not have.Perhaps we all should pool some money together and see how high the bidding goes by individuals that want to bid on the claims directed at themselves? You do not have to prove embezzlement in order to win a judgement against someone as owing money to the estate....

For people interested on bidding on these assets as a group, please PM me and let me know how much money you would be interested in bidding.

can anyone post the date of the auction and and any details on bidding? It is time to put this lame horse down

Exactly. All these trolling in this thread and not a single post where exact dates of legal proceedings, one by one, with corresponding conclusions reached by the court and other interested entities can be found. Can someone please log what was/is happening? Disproportion of how many people have interest in this, and how few useful info can be found is amazing.

That information along with every other public document and audio from the case is available on the creditor's information website.

For the auction details look under documents and check out the document labeled Docket222.pdf It looks like the date is Dec 4th 2014 @ 10:00 in a location in San Francisco TBD. Procedures for bidding and the items up for auction are also listed.

Exactly. All these trolling in this thread and not a single post where exact dates of legal proceedings, one by one, with corresponding conclusions reached by the court and other interested entities can be found. Can someone please log what was/is happening? Disproportion of how many people have interest in this, and how few useful info can be found is amazing.

You mean like the website with exactly all that information that has been posted here and also sent via snail mail to all the creditors?

That information along with every other public document and audio from the case is available on the creditor's information website.

For the auction details look under documents and check out the document labeled Docket222.pdf It looks like the date is Dec 4th 2014 @ 10:00 in a location in San Francisco TBD. Procedures for bidding and the items up for auction are also listed.

Can someone with knowledge for the American legal system explain what in Docket 222.pdf, item e) in Exhibit 1 (Assets to be Sold) is?

It reads "Claims and causes of action against Simon Barber, including preference, fraudulent transfer, and breach of fiduciary duty claims." Is this really an asset of Hashfast that has value for an auction?

That information along with every other public document and audio from the case is available on the creditor's information website.

For the auction details look under documents and check out the document labeled Docket222.pdf It looks like the date is Dec 4th 2014 @ 10:00 in a location in San Francisco TBD. Procedures for bidding and the items up for auction are also listed.